Suppose the marginal utilities for the first three cans of soda are 100, 80, and 60, respectively. The total utility received from consuming 2 cans is
A) 20.
B) 80.
C) 90.
D) 180.
Correct answer is D) 180.
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Of the following U.S. demographic groups, which tends to have the lowest rate of unemployment?
A) whites B) blacks C) white teenagers D) black teenagers
According to the BEA, in the second quarter of 2011 nominal GDP was $15 trillion and in the second quarter of 2012 nominal GDP was $15.6 trillion. Based solely on this information, from the second quarter of 2011 to the second quarter of 2012
A) real GDP may have increased, decreased, or stayed the same. B) real GDP definitely increased. C) real GDP definitely decreased. D) prices definitely increased.
During the colonial period,
(a) both men and women married on average during their teenage years. (b) women married on average during their teenage years and men during their early 20s. (c) both men and women married on average at ages between 20 and 25. (d) both men and women married on average during their late 20s.
Periodic fluctuations in GDP are called business cycles
a. True b. False